MSUFCU Routing Number: 272479663
MSUFCU SWIFT Code: MSUCUS44

ComputerLine - Protected by TrulyU®

Login Help
MSUFCU Live Chat

800-678-4968 • 517-333-2424
Mon-Fri: 7:00 a.m. - 9:00 p.m. ET
Sat: 9:00 a.m. - 3:00 p.m. ET

MSU Federal Credit Union | Disclosures | Business

Business Account Disclosures

This disclosure is provided in compliance with the Federal Expedited Funds  Availability Act and Regulation CC. This policy applies to all deposits into business checking accounts at the Michigan State University Federal Credit Union at 3777 West Road; PO Box 1208; East Lansing, MI 48826-1208, and at all of its branches. Deposits made at Credit Union Family Service Centers are governed by the Availability Policy Disclosure, which is included in this disclosure.

Our policy is to make funds from your deposits available to you immediately. At that time, you can withdraw funds in cash and/or we will use the funds to pay checks that you have written. For determining availability of your deposits, every day is a business day, except Saturday, Sunday, and federal holidays. If you make a deposit on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit on a day that we are not open, we will consider that the deposit was made on the next business day.

Holds On Other Funds (Check Cashing): If we cash a check for you that is drawn on another financial institution, we may withhold the availability of a corresponding amount of funds that are already in your business checking account. Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it.

Holds On Other Funds (Other Accounts): If we accept for deposit a check for you that is drawn on another financial institution, we may make funds from the deposit available for withdrawal immediately, but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us. The funds in the other account would then not be available until the time period, described elsewhere in this disclosure for the type you deposited, has lapsed.

Holds On Funds Deposited by eDeposit (Remote D
eposit Capture): If we accept for
deposit a check deposited through eDeposit (Remote Deposit Capture), the first $1,500.00 of your deposits will be immediately available, and the remaining funds will be available on the second business day after the day of your deposit. In some cases, we may need to extend the hold on a deposited item, we will provide you with a notice and tell you when the funds will be available.

Delayed Availability: In some cases, we will not make all of the funds that you deposit by check available to you immediately. Depending on the type of check you deposit, funds may not be available until the second business day after the day of your deposit. However, the first $200.00 of your deposit will be available on the first business day after the day we receive your deposit. If we are not going to make all of the funds from your deposit available immediately, we will notify you at the time you make your deposit. We will also tell you when the funds will be available. If your deposit is not made directly to one of our employees, or if we decide to take this action after you have left the premises, we will mail the notice by the day after we receive your deposit.

Longer Delays May Apply

In addition, funds you deposit by check may be delayed for a longer period under the
following circumstances:

a) We believe a check you deposit will not be paid.

b) You deposit checks totaling more than $5,000.00 on any one day.

c) You redeposit a check that has been returned unpaid.

d) You have overdrawn your account repeatedly in the last six months.

e) There is an emergency, such as a failure of communication or computer equipment.

We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available. They will generally be available no later than the seventh business day after the day of your deposit.

Special Rules for New Accounts

The following special rules will apply during the first thirty (30) days your business checking account is open:

Funds from the deposits of cash and the first $5,000.00 of a day’s total deposits of cashier’s, certified, teller’s, traveler’s and state and local government checks will be available immediately if the deposit meets certain conditions. For example, the checks must be payable to you. The excess over $5,000.00 will be available no later than the ninth business day after the day of your deposit.

Funds from all other check deposits will be available no later than the ninth business day after the day of your deposit.

Please remember that even after we have made funds available to you, and you have
withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit.

If you have any questions, please contact your branch manager.

Credit Union Family Service Centers

Service Centers, managed by the Credit Union Service Center Corporation, are available for your use. A location guide is available at http://www.cuservicecenter.com/ or 800-919-CUSC (2872). Transactions performed at Service Center locations are subject to their fees, rules, policies, and procedures.

Shared Branch Availability Policy Disclosure: Shared branches are defined as those offices where members of many different credit unions are able to perform transactions to their own Credit Union account. The policy at shared branches is to make funds from your deposits available to you on the same business day your deposit is received. A deposit at a shared branch is considered received when it is accepted with all appropriate endorsements. For determining the availability of your deposits, every day is a business day that your own Credit Union is open which may differ from the days the shared branch is open. If you make a deposit on a day your Credit Union is open, that day will be considered the day of deposit. However, if you make a deposit at a shared branch on a day that your Credit Union is not open, your
deposit will be considered made on the next business day your Credit Union is open.

Longer Delays May Apply: In some cases, all of the funds that you deposit by check will not be available to you on the same business day you make the deposit. Local checks may be held for two (2) business days after the day of deposit and non-local checks may be held for five (5) business days after the day of deposit. Depending on the type of check you deposit, funds may not be available until the tenth business day after the day of deposit. However, the first $200.00 of your deposits will be available on the first business day after we receive your deposit. If all of your funds from your deposit are not available on the same business day, you will be notified at the time you make your deposit as to when your funds will be available. If your deposit is not made directly to a shared branch employee, or if this action is taken after you have left the premises, a notice will be mailed to you by the business day after your deposit is received. If you will need the funds from a deposit right away, you should ask us when the funds will be available. In addition, funds you deposit by check may be delayed for a longer period if there is an emergency, such as failure of communications or computer equipment. Should such an emergency occur, we will notify you and tell you when the funds will be available. They will generally be available no later than the second business day after the day of deposit.

 

Rev. 1/13